Catchtable raises $24 mn in Series D funding

South Korean startup WAD, the operator of a restaurant reservation service platform, has recently raised 30 billion won($24 million) in a Series D funding round, led by Company K Partners, Altos Ventures, Korea Development Bank, Woori Venture Partners, and Hyundai Investment Partners.

It has been about 1 year and 3 months since the Series C investment in April last year. The cumulative investment amount has reached 70 billion won ($55 million).

The company, which operates a real-time restaurant reservation platform Catchtable, will use the new funds to enhance its services and expand into new business domains, including kiosks and table ordering.

Catchtable was founded in 2018 by three entrepreneurs, including former NHN executive Yong Tae-soon. The company initially began as a B2B solution for restaurants, but later expanded to launch a mobile app-based real-time restaurant reservation service in 2020.

The company has seen rapid growth in recent years, with over 3 million monthly active users and more than 7,000 affiliated franchise stores nationwide. Catchtable's recent waiting service has handled over 650,000 waits, positioning the company as a frontrunner in the industry.

Leveraging this investment, Catchtable plans to enhance its services and focus on expanding into new business domains. The company aims to introduce innovative models in the kiosk and table order sectors, while also dedicating efforts towards global expansion.

Write to Jong-Woo Kim at jongwoo@hankyung.com